Nifty 50 May See Some Bounce Back, But Bounce Back Vulnerable To Selling Pressure.

Indian benchmark index NSE Nifty 50 closed down 149 points to 10303 on the Friday trading session. The main index opens gap down 130 points to 10323 and keeps sliding thereafter to the day’s worst level of 10249 before finally settled to 10303.55.

On weekly time frame, the index has retreated previous week gains and mark weekly high and low of 10710.15 and 10249.60 respectively.

Nifty 50:-On the daily chart, the index has gap down opening followed by a weak closing for the day. The index is in correction phase and witnessed heavy sell off from its 200 days simple moving average. On candle stick front, Nifty forms a Doji candle signs neutrality in the coming time.

To fill the gap the index may see some pull back in the coming time. The index has nearest resistance at 10340 above that it may test 10380-10420-10460-10490 to the upside. The bears are in control of market and any pullback is vulnerable to selling pressure. The index has nearest support of 10270 below that it may test 10240-10210-10170-10130 in the coming time.

Bank Nifty: – The banking index retreats near by 50% of its previous weak gains and closed near its short term support of 24920. The index has nearest resistance at 25170 above that it may trend higher to 25280-25460-25580-25750 in the coming time, whereas below the support level of 24920 it may fall to 24800-24670-24490-24270 in near term.

USDINR: – The Rupee closed with the gains of 27 Paisa against the US Dollar on the Friday trading session. The currency pair marks the all-time high of 74.49 in the past week.

The currency pair is in overbought zone and has witnessed second consecutive weekly losses on the chart. The Rupee may see gaining more strength against the US Dollar in the coming time, if it maintains to keep trading below 73.75-74.00 in the coming time.

Bottom line: – Moneyites.com recommends market may see some pull back, But Any pull back is vulnerable to selling pressure till Nifty and Bank Nifty is trading below 10770 and 26000 respectively.

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Sell Theme in Nifty, Short Term Support at 10773.

Past week, we saw Nifty 50 continues the slide and made new weekly low of 10850 before finally settled at 10930 after loss of 47 points on the Friday trading session.

The index has registered 4th straight weekly losses on the chart and closed near the weekly low with the negative sentiments.

Nifty 50:- The index forms a bearish candle has shown third straight fall on the daily chart. The index trending downwards and additional sell off triggered after US hikes it interest rate policy last week.

The index fall around 900 points in Sep month, nearer to its 200 days simple moving average of 10773. The index has sell theme and may test the key support level in the coming time.

The index has nearest support at 10850 below that it may test 10810-10770-10745-10710 in the coming time. Whereas it has nearest resistance at 10960 above that it may test 11000-11030-11065-11085 in the short run.

Bank Nifty: – The banking index has nearest resistance at 24920 above that it may test 25000-25110-25250-25380 to the upside, whereas it has nearest support at 24750 below that it may test 24670-24560-24460-24370 in the coming time.

USDINR: – The Currency pair hovering near it key resistance level of 73 in the short run. An upside breakout may cause additional sell off in the market or holding below the level may hope of short term relief in the coming time.

Bottom line: – Moneyites.com recommends market to trade with negative biasness till it’s trading below 11200 for Nifty and 26000 for Bank Nifty in the short run. IT sector to be focused in short- term.

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Buy Nifty Put on Rise to Hedge Portfolio Form US Int Rate Policy, Resistance 11205.

The Indian Benchmark index rose 100 points to 11067 by the end of Tuesday trading session. The index open flat and keeping swinging between profit and losses before finally soars 100 points in the last hour and a half trade on news of infusing additional liquidity in the system through CRR cut.

All sector indices are closed in green exception to Realty sector, who’s down 1.72% for the day, whereas Nifty Pharma is the top gainer sector with 2.51%.

Nifty 50:- On Charts the index forms a bullish candle and closed near the day high with positive notes. The index breaks the losing streak after five days on news of aiding liquidity in the system.

The Interest rate policy in US is scheduled to announced today may set higher probability of hiking interest rate today which may further add selling pressure on the higher level.

The index has nearest resistance at 11110 above that it may test 11140-11170-11205 on the upside, whereas it has nearest support at 11030 below that it may test 10990-10955-10930 to the downside.

Nifty50 , Nifty Bank , Share market

Bank Nifty:- The banking index rose on positive news get some stability in the short term from downside risk. The index has immediate resistance 25420 above that it may test 25520-25670-25820 in the coming time. Whereas it has nearest support at 25250 below that it may test 25150-25020-24890 to the downside.

USD/INR:- On the Charts, the Currency pair forms a double bottom may trigger to the higher side on rising interest rate policy. The currency pair target 75-76 in the coming time against the US dollar and a vice versa may give some relief in the coming time.

Bottom line: – Moneyites.com recommends buy put option on rise to hedge your portfolio against short term uncertainty.

 

 

 

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Nifty to Retest 10230-350 level, Keep Check On RBI Move.

MARKET SUMMARY: – The Benchmark Index Nifty50 registered a weekly gain of  1.15% to close at 10113. This past week, Nifty50 takes off from the worst level of five months low of 9998 and retreats previous week losses on Monday and Tuesday but selling pressure at the resistance level of 10230 holds back Nifty to settle at 10113.

last Weekly data of lower claims of US Unemployment may set the positive tone for markets in the coming week.

This coming week, Market eyes on RBI Policy scheduled to announce on April 6 of this week, and I expected RBI may take a hawkish stance.

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Nifty50 10113.70:- On the daily chart, Nifty50 forms a small bearish candle taking resistance from the declining supply line. Nifty next hurdle remains at 10230 level that its taking resistance from the last two weeks. Nifty50 has crucial resistance level at 10230 above that 10330-10420 can be retested on the higher side. On the contrary, Nifty50 has immediate support at 10095 level below that 10030-9950 can be seen on the downside.

Bank Nifty 24263.35:- Bank Nifty forms a small Doji and holds above the resistance line in the last trading session. Bank Nifty index has immediate hurdle at 24500 level above that it may trend up to 24720-24980 on the upside. The Bank Nifty immediate support stands at 24200 below that 24090-23720 can be seen on the downside.

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BOTTOM LINE:- Trading strategy for Nifty traders, “Go long”  Aggressive traders can enter at the current level whereas conservative traders can wait for the level to breach on the higher side and maintain Positions with stop loss given.

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Nifty Trading Strategy For Dec Month Expiry, US Tax Bill Passed

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MARKET SUMMARY: – On last trading session of the Week, Indian benchmark index Nifty 50 edge higher 0.50% to close at 10493.  The Nifty 50 index has started the day on a positive note after opening gap up at 10457 and slowly build on the early gain to hit the fresh all-time high of 10501.

On Weekly basis,  On Monday, the Nifty index traded highly volatile on the judgment day of exit poll result from Gujarat and HP state, but soon after a clear victory for BJP in both the state’s Market seems to be got stable and keeps trending upside in a narrow range.

The market added 163 points on a weekly basis to close in green at 10493, while mark weekly high and low of 10501 and 10074 respectively.

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TECHNICAL COMMENTS: – On the daily Chart, The Nifty index broke out of a declining trend channel pattern and forms a small bullish candle in the Friday trade. The main index keeps trending positive while showing some consolidation at the all-time high level.

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On close, The nifty 50 index holds above the short and medium term SMA of 20 and 50 days respectively and RSI stands at 63 level.

On shorter time frame, The Nifty 50 index trading in a narrow range and keeps on consolidation at the higher level. The main index marks an all-time high level with an unsupported volume.

The Nifty index trading well above the short and medium term average on hourly chart and RSI hold at 61 level.

The index has immediate support at 10460-10405 level on the downside, below that some sharp profit booking can be seen. On the contrary, a decisive breakout on the higher may trend nifty up to the target 10540-10600 in the short run.

The US Tax bill passed and signed by the US president, A positive trigger from this may heads nifty for the Fresh high in the coming time.

BOTTOM LINE:- Trading strategy for Nifty traders,  Buy bottoms till Nifty index holding 10400 level on a closing basis and fresh long position only above 10500 level on an intraday basis.

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Nifty Weekly Outlook, A Final Outcome From Guj Election Give A Decisive Move.

Moneyites.comMARKET SUMMARY: – On Friday trade,  the Indian benchmark index Nifty ended higher 0.79% to 10333. After taking cues of BJP win in Gujarat from the exit poll on Thursday, the Nifty 50 index open gap up and managed to close in green after holding the early morning gains.

On weekly basis, the main index swings between profit and losses and finally ended in green after adding 68 points to 10333. The Nifty index made weekly high and low of 10373 and 10141 respectively.

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Inflation rose to 8 months high in November at 4.8% and IIP number is lower to 2.2% in October month from 3.8 % in September.

TECHNICAL COMMENTS: – On the daily chart, the Nifty 50 price action forms a small bearish spinning top candle like pattern. The market waits, for now, to get clear confirmation from the outcome of Gujarat exit poll of  BJP wins.

The index price broke and hold above the declining trend channel and a decisive blew of 10410 level may head nifty to touch all-time record level in the short run.

In shorter time frame, The index price closed well above the short and medium term exponential moving average and RSI stands at 61 level.

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A failure to attempt in breaching the level may hold nifty back in the trading range. As a matter of arguments as the price in already factored in taking cues from the pre-election move, followed by a gap up opening on Friday after the outcome of the first phase of the exit poll.

BOTTOM LINE:-  Trading Strategy for Nifty traders, A decisive move above 10410 in Nifty may head for new highs in the short run.

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Nifty To See Upside If 10340 Is Breaches In Fashion.

Moneyites.comMARKET SUMMARY: – On Thursday trade, Indian benchmark index nifty 50 swings between profit and losses and finally closed in green after surging 0.58% to 10252. The main index opens up a gap and tumbled down to days worst level before climbs up to close near the day high.

The Nifty 50 index made day low and high of 10141 and 10276 respectively. The market approaching higher volatility as coming closer to exit poll result from Gujarat elections.

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US Federal Reserve as widely expected rose the interest rate by a quarter to 1.50% from 1.25%. As a reflection financial market around the globe is trading in red in the early morning trade with exception to US Markets finishes in green.

TECHNICAL COMMENTS: –  On the daily chart, the Nifty index forms a long bullish candle. The Nifty 50 index sharply recover from the losses and closes in green with the positive sentiments.

On short-term time frame, the Nifty index closed well above the short and medium term EMA and RSI stand at 57 level. Currently, Nifty hold immediate resistance at 10275 above that 10300-10340 can be tested on the higher side. Whereas below the support level of 10210 some weakness towards the level of 10170-10140 can be witnessed.

Traders and Investors get some cues from the result of the first phase of exit poll from HP and Gujarat.

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BOTTOM LINE: –  Trading Strategy for Nifty traders,  Nifty may approach higher volatility and has crucial resistance at 10340 level to test further upside.

 

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Weekly Wrap- Nifty Snap losses, Eyes on Gujarat Elections.

Moneyites.comMARKET SUMMARY: – On Last trading session of the week, Indian benchmark index nifty extend gains to close at 10265 after surging 0.97%. The Nifty 50 Index opens gap up and keeps on capitalizing on Thursday sharp recovery to close near the day high. The main index retreat losses of the week and close at the weekly high after adding over 140 points in the week.

TECHNICAL COMMENTS: – On the daily chart, the nifty 50 index forms long back to back bullish candle, After testing 100 days SMA. The Nifty 50 sharply recover the losses and closed near the weekly high with positive sentiments.On close, the Nifty index holds above the SMA of 50 days and RSI stands at 52 level.

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The main index showed pull back from the lower band of the Bollinger bands and now holds above the center line of it, sign further bull to run in the coming time.

Nifty traded off well from the weekly low to close in green ahead of Gujarat election. result to be out on 18th Dec.

In short-term time frame, the main index seems to consolidate at the higher level and RSI stands at above 70 level. The Nifty 50 index has immediate resistance at 10275 above that 10310/10330/10365 level can be tested on the higher side. On the contrary, the index holds immediate support at 10230 level below that 10200/10160 can be witnessed on the downside.

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BOTTOM LINE:- Trading strategy for Nifty traders,  A good time for options traders as a volatile move for the week is expected with an upside hurdle of 10410.

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Nifty May See Relief Rally around 10175-220 level, If level of 10k is Maintained.

MARKET SUMMARY: – On Wednesday trade, Indian benchmark index Nifty extend losses and close at 10044 after declining by -0.73%. The main index keeps sliding throughout the day and breaks below the 100 days SMA with no pullback efforts.

The Nifty index keeps continues the losing streak and shows further correction after the news of RBI policy of keeping its interest rate unchanged.

TECHNICAL COMMENTS: –On the daily chart, the benchmark index forms a long bearish candle and closes near the day low with the negative sentiments. Nifty Index closed below the 100 days SMA and RSI stand at 33 level.

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RBI keep the interest rate unchanged the second time in a row.

On the short-term time frame, Nifty index price closed near the day low and below the short and medium term Moving average on the hourly chart. RSI stands at 27 level but not in line with the price action, as a matter of divergence.

The index holds immediate resistance at 10105 and holding above this 10150 can be retested on the higher side, On the contrary below the support level of 10030, level of 10000 and below can be seen in the coming time.

BOTTOM LINE:- Trading Strategy for nifty traders, level of 10000 will be crucial to watch.

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Nifty Hold Support At 100 Days SMA Ahead Of RBI Policy.

MARKET SUMMARY: – On Tuesday trading, India benchmark index Nifty50 starts the day with weakness and slide further to day lower level at 10069. It is in the second half, the nifty50 index offset the morning losses and close at 10118 with the moderate losses of 9 points.

The market breadth for the Nifty index is negative, 2 stocks are trading negative for every 1 stocks positive. Nifty50 recovery led by banking major SBI and Reliance industry.

India volatility index (VIX) added  1.03% to close at 15.01

TECHNICAL COMMENTS: – On the daily chart, the Nifty index forms a doji, Signs market participants remain neutral ahead of the RBI policy scheduled to be announced tomorrow.

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The Nifty index holds back from the day low from taking support at 100 days SMA.

A higher inflation data and crude oil price may weigh on RBI to go with cautious mood and keep the interest rate unchanged for now.

The market tone is negative and volatile, holding crucial support at 10100 level on a closing basis. A weak closing below this may trigger further downside in the coming time.

On shorter time frame, the Nifty index holds above the EMA on hourly chart and RSI stands at 36 level.

The nifty index expected to trade volatile and holds immediate support at 10070 level below which further downside to the level 10040-10000 can be seen, Whereas above the resistance level of 10150 upside level of 10180-10225 can be retested in the coming time.

BOTTOM LINE: – Trading strategy For Nifty traders, Nifty expected to trade volatile and sell on high if unable to close above 10200 level.

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